What is the name of the salary deferral plan that Epcon Communities employees may participate in?
Epcon_Communities Franchise · 2025 FDDAnswer from 2025 FDD Document
ement | Illinois law applies. See State Addenda to Franchise Agreement. | Depreciation expense is recorded using the straight-line method for the years ended December 31, 2023 and 2022 totaling $69,822 and $63,076, respectively.
Notes to Consolidated Financial Statements December 31, 2023 and 2022
Profit Sharing Plan
The Company's employees may participate in the salary deferral plan of Epcon (the Plan). The Plan, cove
Source: Item 23 — RECEIPTS (FDD pages 86–280)
What This Means (2025 FDD)
According to the 2025 FDD, Epcon Communities employees may participate in the salary deferral plan of Epcon. The plan covers substantially all full-time employees, allowing participants to contribute certain amounts on a pre-tax basis. Epcon may also provide discretionary matching contributions as specified in the plan agreement. In 2023 and 2022, Epcon Communities made safe harbor contributions of $70,210 and $46,678, respectively.
For a prospective franchisee, this indicates that Epcon Communities offers a retirement savings plan to its employees, which could be a factor in attracting and retaining talent. The availability of pre-tax contributions can be a significant benefit for employees, and the potential for matching contributions from Epcon Communities adds further value to the plan.
The safe harbor contributions made by Epcon Communities in 2023 and 2022 show the company's commitment to supporting its employees' retirement savings. These contributions are discretionary and subject to the terms of the plan agreement, so franchisees should inquire about the specific details of the plan and any potential changes to the contribution levels.
It is important for potential franchisees to understand the employee benefits offered by Epcon Communities, as these can impact the overall cost of labor and the attractiveness of the franchise as an employer. Understanding the specifics of the salary deferral plan and the company's contribution policies can help franchisees budget effectively and manage their workforce.